DGAP-Ad hoc: Klöckner & Co

DGAP-Adhoc: Klöckner & Co SE impairs Goodwill

Klöckner & Co. SE / Key word(s): Miscellaneous

09.12.2015 18:48

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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After the market environment for steel and metal products in the US has once again developed worse than generally expected in the current year, Klöckner & Co SE recognizes impairments on the complete goodwill of the North American activities of around EUR270 million. As such by the end of the current year - with equity standing at around EUR1 billion - remaining goodwill in the group balance sheet of Klöckner & Co SE is expected to be around EUR30 million. Including restructuring expenses in Europe and tax assessments to be finalized in the context of the goodwill impairment, from today's point of view a negative group net income of overall EUR350 to EUR380 million is expected for 2015.

The forecasts for the current year of an operating income (EBITDA) before restructuring expenses of up to EUR85m and a positive free cash flow are confirmed. In the following year a significant increase in EBITDA and a positive group net income are expected.

The complete annual report as of December 31, 2015 containing the final figures will be published on March 1, 2016.

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Information and Explaination of the Issuer to this News:

Issuer: Klöckner & Co SE, Am Silberpalais 1, 47057 Duisburg, Germany

The shares of Klöckner & Co SE are admitted to trading on the regulated market segment (Regulierter Markt) of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) with further post-admission obligations (Prime Standard). Klöckner & Co shares are listed in the MDAX(R)-Index of Deutsche Börse.

ISIN: DE000KC01000; WKN: KC0100; Common Code: 025808576.

Contact person Klöckner & Co SE: Christian Pokropp - Press Spokesperson Head of Investor Relations & Corporate Communications Telephone: +49 (0) 203-307-2050 Fax: +49 (0) 203-307-5025 Email: christian.pokropp@kloeckner.com

09.12.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de

--------------------------------------------------------------------------- Language: English Company: Klöckner & Co. SE Am Silberpalais 1 47057 Duisburg Germany Phone: +49 (0)203 / 307-0 Fax: +49 (0)203 / 307-5000 E-mail: info@kloeckner.com Internet: www.kloeckner.com ISIN: DE000KC01000 WKN: KC0100 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------